Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Tengelmann Group announced to close 27 of the 500 Kaiser’s Tengelmann supermarkets in Germany which will make 350 jobs redundant. The management did not exclude the possibility of further redundancies. There was no information given about the end date of the job reduction.
Tengelmann Group is a German commercial company which also holds Kik (low-cost clothing chain) and Obi (home improvement warehouse chain) and currently employs around 72,800 people. The supermarkets ran losses in the past year which according to the company is the main reason for the job reduction.
Eurofound (2014), Tengelmann, Internal restructuring in Germany, factsheet number 77320, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77320.